CEC founder share­holder Sin­dowe re­tires...

Zambian Business Times - - FRONT PAGE -

EN­ERGY trans­mit­ter and dis­trib­u­tor Cop­per­belt En­ergy Cor­po­ra­tion Plc has an­nounced changes in its board struc­ture fol­low­ing re­tire­ment of found­ing share­holder Mr. Han­son Sin­dowe. This was con­tained in a state­ment is­sued by Com­pany Sec­re­tary Ju­lia Chaila. In com­pli­ance with sec­tion 3.59( b) of the Lusaka Se­cu­ri­ties Ex­change List­ings Rules, the Board of Direc­tors of CEC an­nounced changes in the Direc­torate, with im­me­di­ate ef­fect.

Sin­dowe ex­its CEC after a long and suc­cess­ful ca­reer that saw the pri­vati­sa­tion of the en­tity in 1997 as a mem­ber of the man­age­ment buy­out team. He served in var­i­ous se­nior man­age­ment ca­pac­i­ties upto the time he as­sumed the role of Ex­ec­u­tive Chair­man in 2006. It was dur­ing his clock that the floata­tion of CEC shares to the pub­lic was made to make it Zam­bia’s first pub­licly listed elec­tric­ity com­pany in 2008. Reynolds Bowa, who takes over from Mr. Mu­nakupya Han­tuba as Board Vice Chair­man will, in the in­terim, carry on the du­ties and re­spon­si­bil­i­ties of Chair­man un­til the ap­point­ment of a new Chair­man of the Board. The ap­point­ment of a new Chair­man is ex­pected to be con­cluded im­mi­nently, and will be an­nounced ac­cord­ingly.

Other direc­tors that have re­tired are Mr. Michael John Tar­ney and Dr. Six­tus Mu­lenga.

Re­plac­ing the re­tired direc­tors, the Board an­nounced re­place­ment ap­point­ments of Mr. Thomas Featherby, cur­rently Chief In­vest­ment Of­fi­cer of Ron­dine Cap­i­tal LLP, an in­vest­ment firm which he co-founded in 2014 that is fo­cused on listed com­pa­nies in Sub-Sa­ha­ran Africa and is a long-term share­holder of CEC. He is also a grad­u­ate of Cam­bridge Univer­sity’s Trin­ity Col­lege and has so far in his ca­reer ex­e­cuted trans­ac­tions and man­aged listed and pri­vate port­fo­lio in­vest­ments in ex­cess of USD5­bil­lion. He has led po­ten­tial in­vest­ments in over 35 coun­tries in Africa and across a broad spec­trum of sec­tors. Prior to Ron­dine, he worked at He­lios In­vest­ment Part­ners LLP, Ver­mil­ion Part­ners Ltd (Bei­jing) and Lazard & Co. (Lon­don).

Mr. Derek Chime cur­rently serv­ing as Pri­vate Eq­uity Africa Di­rec­tor at Stan­dard Char­tered Bank was also ap­pointed as a re­place­ment to the Board. Chime is an emerg­ing mar­ket in­vest­ment pro­fes­sional with over 8 years of di­ver­si­fied ex­pe­ri­ence in orig­i­na­tion, deal ex­e­cu­tion, port­fo­lio man­age­ment and exit cor­po­rate fi­nance and prin­ci­pal in­vest­ing in Africa. Mr. Chime is di­rectly re­spon­si­ble for manag­ing around USD450mil­lion of in­vested cap­i­tal un­der a USD900mil­lion Africa fund. He has broad sec­tor knowl­edge par­tic­u­larly across the power sec­tor value chain, man­u­fac­tur­ing, fi­nan­cial services and tele­coms sec­tors. He cur­rently sits on the boards of five (5) port­fo­lio com­pa­nies. He stud­ied at the Univer­sity of La­gos, Akoka and has pre­vi­ously worked in in­vest­ment bank­ing at Ve­tiva Cap­i­tal Man­age­ment Lim­ited.

A CEC En­gi­neers at work.

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